Buying A House? Would you pay £20k for a £5k car?

TighterThanTwoCoatsOfPain

TheChicken wrote: »

Yes but you wouldnt initially outlay £20,000 for the wreck and THEN spend £5,000 doing it up?

Ch!ck

tbh, didnt read all the other threads, but this post just sums up that you dont know the Classic Car market any better than you know the housing market!

pickles110564

TheChicken wrote: »

I agree Marky, yet if people paid what they truly thought the property was worth we wouldn't have this situation. If property developers, commuters and people who want at any cost weren't involved we would have a saner market.

Then no one would sell.
People will always pay more if:- It is the house of our dreams, Little Jane and Jonny will do so much better at this school darling, I love this place and all the the local oiks will have to show their passport to get into our Close.

TheChicken

pickles110564 wrote: »

Then no one would sell.
People will always pay more if:- It is the house of our dreams, Little Jane and Jonny will do so much better at this school darling, I love this place and all the the local oiks will have to show their passport to get into our Close.

That is the speech of a non-average person though - someone who can afford over £300 a year in car tax to drive their little darlings to school in their 4x4 need I say more!

Ch!ck

TheChicken

TighterThanTwoCoatsOfPain wrote: »

tbh, didnt read all the other threads, but this post just sums up that you dont know the Classic Car market any better than you know the housing market!

Please don't make assumptions its a hyperthetical argument

jago25_98

Hello. Commenting on various:

"The tendency to 'waste money' is even more pronounced when the person doing it is seeking to compensate for some self-perceived inadequacy; whether that's feeling as though they're not attractive enough to their preferred sex, feeling as though they don't have enough friends, or feeling as though they don't have enough time, or intelligence. It should be no surprise that advertisers and marketers are aware of these common weaknesses and exploit one or more of them in nearly every campaign they produce."
^ A very good point. What we need is a sex index; sex appeal return on investment. Think I'm joking there's a thread somewhere which says home owners get married more than non owners.

"No one is making you buy a house"
^ As someone who lives in a van out of choice, sometimes it feels like there is a LOT of pressure.

What we have here are 2 parties at loggerheads with vested interests in prices rising or falling.

"We didn't bother looking around those ones, because they or the agent have a need for a reality check."
^ The OP suggests making an offer anyway to speed the market up. I'm just reiterating their point for the benefit of the OP here rather than siding.

"Just let's keep this civilized"
^ here, here

"mmmmm might be a few people here that think lenders dictate the market..."
^ I think it's definately a lot more than simple supply and demand. I think this because of watching the effect of chatter on stocks and shares.

"That is the speech of a non-average person though re: Aspirational thoughts on schools"
^ I think this /is/ very much a common persons thoughts. Especially women eh?

chappers

To the original poster what aload of rubbish you obviously have no idea of how the housing market or general economy in afree market state works.
If we took your argumnet based on average house prices and inflation so all buyers start offering £90K on a £191k house, now some idiots who maybe bought there houses when they cost £3K might say ok i will take that , however most of the market couldn't actually take that price and move on as the rest of us aren't so stupid so what happens during acorrection in the market is that buyers offer below the asking price and get rejected until they offer at a price acceptable to the vendor this happens all through the hosusing market and a concensus is reached as to sensible prices for houses, this becomes the market value not a price arbitarily picked out of the air by some crackpot who has devised an incorrect method of calculating what they think the house price should be.

TheChicken

chappers wrote: »

To the original poster what aload of rubbish you obviously have no idea of how the housing market or general economy in afree market state works.
If we took your argumnet based on average house prices and inflation so all buyers start offering £90K on a £191k house, now some idiots who maybe bought there houses when they cost £3K might say ok i will take that , however most of the market couldn't actually take that price and move on as the rest of us aren't so stupid so what happens during acorrection in the market is that buyers offer below the asking price and get rejected until they offer at a price acceptable to the vendor this happens all through the hosusing market and a concensus is reached as to sensible prices for houses, this becomes the market value not a price arbitarily picked out of the air by some crackpot who has devised an incorrect method of calculating what they think the house price should be.

NO
I am not suggesting offer 90k for 190k house but merely be more sensible, look at the area house and prospects AND look at how much the house price is inflated, I would Initially offer say £135k and take it from there - as I have read on here many ARE doing.

But I now personally have a NEW problem. I was looking at taking out a 95% mortgage as I only have a 5%-8% deposit....looking around I can't find many at good rates and would be suprised if 95% mortgages stay on the market! So even more of a reason for me to offer 30% less than the "window" price!

Ch!ck

chappers

By all means go ahead in your merry old world just don't expect to be buying a house anytime soon.

propertyguy7

chappers wrote: »

By all means go ahead in your merry old world just don't expect to be buying a house anytime soon.

How true! Come on Chappers you must see that my ramblings about the press ring a little true with nutters like this preaching on. Actually this guy might a be a little far gone, but you get my point!!!

carpetbelly

TheChicken wrote: »

"The average UK price has risen by 120,860 pounds during the past decade from 70,696 pounds to 191,556 pounds -- an increase of 171 percent."

Yes I understand that prices do rise over time but a realistic rise of a £70,000 house over 10 years should reflect inflation so there fore it would equate to around £90,000.

I'm going to ask a silly question here so I'll apologise now but why is 10yrs ago the point where house prices were so obviously spot on?

I just want to know if 10yrs ago, the point this article takes its starting point from, was so spot on with it's house pricing?